The extreme relevance of SMEs to the economy is a truism. They generally employ the most significant percentage of the labor force in most economies and contribute considerably to the GDP, economic stability, and growth. They are even more important in developing economies, given that they contribute significantly to the fight against extreme hunger and poverty. However, despite their significant role, this category of businesses still experiences a very high failure rate in most economies, especially in Africa, Cameroon inclusive. Nevertheless, while SMEs in Cameroon suffer a high failure rate, the inhabitants of the Western Region of Cameroon thrive considerably in their entrepreneurial activities. While their success is highly recognized, empirical studies that determine which factors are responsible for this success are inexistent. Therefore, this study aims to identify which factors are determinants of this success empirically. This survey study was conducted on 403 SME owners/managers in the region of Cameroon. Binary Logistic Regression was used to analyses the collected data. This study revealed that access to capital, industry experience and availability of markets are determinants of SME success/failure in this region. From these findings, it is recommended that existing entrepreneurs and potential entrepreneurs consider getting into industries with already established and available markets to increase success chances. In the same light, more has to be done to boost SME access to traditional financing. Finally, entrepreneurship training programs should include modules that provide learners with experience in relevant industries
Ndindah, N. C., & Tripathi, A. (2022). A Study of factors that account for the success of SMEs in the Western Region of Cameroon. Pacific Business Review (International), 14(7), 56-67. http://www.pbr.co.in/2022/January5.aspx